Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ARLINGTON, VA-Ownership of the Gallery at Virginia Square, a 231-unit luxury apartment building, has changed hands in a recent deal valued at $60 million. Archstone-Smith acquired the 19-story tower from DEL/Virginia Square LLC, bringing its total collection of high-rise apartment units in the Ballston submarket to more than 2,500. According to Arlington County records, the property has a current assessed value of $43.2 million.

Occupying a convenient and coveted location right above the Virginia Square Metro station on Nelson Street, the Gallery at Virginia Square includes such features as 7,150 sf of ground-level retail space and a three-story underground parking structure. The property’s amenities also include a rooftop swimming pool, entertainment room and an exercise facility.

“The greater Washington, DC metropolitan area epitomizes our strategy to invest in markets with excellent growth prospects, close to where our customers want to work and shop,” says Archstone-Smith chairman and CEO R. Scot Sellers. “We will continue to pursue investment opportunities here.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.